Exscientia reports growth in multiple areas in trading update

By Tom Kilkelly

13 November 2023

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Oxford-based Exscientia, the AI-driven precision medicine company, has reported encouraging financial progress in a number of areas in its latest business update.

Revenue was up from $7.7 million in September 2022 to $10.8 million this year, with a decrease in both operating loss and operating expenses too.

The firm attributed its performance to a number of factors, including its new collaboration with Merck KGaA. This partnership is focused on the discovery of novel small molecule drug candidates across oncology and immunology using Exscientia’s AI-driven precision drug design and discovery capabilities.

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Professor Andrew Hopkins, founder and Chief Executive Officer of Exscientia, said: “At Exscientia, we are laser-focused on building an engine that designs and develops high impact medicines that have the potential to transform patients’ lives.

“We are continuing to build out a highly-differentiated internal oncology pipeline, particularly with clinical and IND-enabling stage programmes targeting CDK7 and LSD1.

''In addition, our partnerships are steadily progressing, including our recently announced first milestone with Sanofi and a new collaboration with Merck KGaA, Darmstadt, Germany.

''These advancements, paired with our commitment to technological capabilities, such as automation and ex vivo patient tissue analysis, solidify Exscientia’s leadership in AI-enabled drug design and development.”

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.